Qure.ai, the fast growing Indian health-tech startup that offers artificial intelligence (AI) solutions for medical diagnostics, is planning to go public in next two years, says its co-founder and CEO Prashant Warier.
Founded in 2016 and headquartered in Mumbai, Qure.ai has developed advanced AI algorithms that help healthcare providers detect critical conditions like tuberculosis, lung cancer and stroke risks. These tools that analyse medical images to give fast and accurate diagnosis are being increasingly used in regions with shortage of trained radiologists.
Warier stated in media, “We look to break even and be profitable next financial year. As we sort of get to that break-even, we can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO.”
The company has already got significant backing from global investors. Qure.ai has raised USD 125 million (~INR 1,063 crore) so far with Fractal Analytics, Peak XV Partners and Novo Holdings—the investment arm of Danish pharma giant Novo Nordisk—as its top backers.
Global Expansion with US as Key Market
Qure.ai’s solutions have got traction with major global healthcare players. Its client list includes AstraZeneca, Medtronic and Johnson & Johnson MedTech with whom it is partnering in India to detect early lung cancer.
Currently, US accounts for around 25% of the company’s revenue, making it Qure.ai’s largest market. The company is now looking to go deeper in US through new partnerships. At the same time, it is also focusing on expansion in low and middle income regions in Latin America and Africa to bridge diagnostic gaps in underserved healthcare systems. Interestingly, India is a minor market contributing less than 5% of overall revenue.
Growth Trajectory in a Booming Industry
Qure.ai has seen 60–70% annual revenue growth and Warier expects this to continue for next five years. The company currently sees around 15 million patients globally each year and this number will go up as AI driven diagnostic tools become more mainstream.
The optimism around Qure.ai is in line with industry trends. The global AI in healthcare market which is estimated to be USD 14.92 billion (~INR 1.26 lakh crore) in 2024 is expected to reach USD 110 billion (~INR 9.36 lakh crore) by 2030 as AI tools for early disease detection, workflow automation and reducing the burden on overworked healthcare professionals gain traction.
Strategic Outlook
While profitability is the goal for next financial year, an IPO is clearly on the cards. Warier said achieving financial sustainability will be a key milestone before public listing.
With its pioneering AI technologies, international clientele, and expanding footprint across developed and emerging markets, Qure.ai is positioning itself as a formidable player in the global health-tech landscape. If current growth trends continue, the company could well be one of India’s most prominent AI-based healthcare success stories to enter the public markets in the near future. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
Source: ipocentral.in
#healthcarestartup #dseidehealthcarenetwork
Founded in 2016 and headquartered in Mumbai, Qure.ai has developed advanced AI algorithms that help healthcare providers detect critical conditions like tuberculosis, lung cancer and stroke risks. These tools that analyse medical images to give fast and accurate diagnosis are being increasingly used in regions with shortage of trained radiologists.
Warier stated in media, “We look to break even and be profitable next financial year. As we sort of get to that break-even, we can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO.”
The company has already got significant backing from global investors. Qure.ai has raised USD 125 million (~INR 1,063 crore) so far with Fractal Analytics, Peak XV Partners and Novo Holdings—the investment arm of Danish pharma giant Novo Nordisk—as its top backers.
Global Expansion with US as Key Market
Qure.ai’s solutions have got traction with major global healthcare players. Its client list includes AstraZeneca, Medtronic and Johnson & Johnson MedTech with whom it is partnering in India to detect early lung cancer.
Currently, US accounts for around 25% of the company’s revenue, making it Qure.ai’s largest market. The company is now looking to go deeper in US through new partnerships. At the same time, it is also focusing on expansion in low and middle income regions in Latin America and Africa to bridge diagnostic gaps in underserved healthcare systems. Interestingly, India is a minor market contributing less than 5% of overall revenue.
Growth Trajectory in a Booming Industry
Qure.ai has seen 60–70% annual revenue growth and Warier expects this to continue for next five years. The company currently sees around 15 million patients globally each year and this number will go up as AI driven diagnostic tools become more mainstream.
The optimism around Qure.ai is in line with industry trends. The global AI in healthcare market which is estimated to be USD 14.92 billion (~INR 1.26 lakh crore) in 2024 is expected to reach USD 110 billion (~INR 9.36 lakh crore) by 2030 as AI tools for early disease detection, workflow automation and reducing the burden on overworked healthcare professionals gain traction.
Strategic Outlook
While profitability is the goal for next financial year, an IPO is clearly on the cards. Warier said achieving financial sustainability will be a key milestone before public listing.
With its pioneering AI technologies, international clientele, and expanding footprint across developed and emerging markets, Qure.ai is positioning itself as a formidable player in the global health-tech landscape. If current growth trends continue, the company could well be one of India’s most prominent AI-based healthcare success stories to enter the public markets in the near future. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
Source: ipocentral.in
#healthcarestartup #dseidehealthcarenetwork
Qure.ai, the fast growing Indian health-tech startup that offers artificial intelligence (AI) solutions for medical diagnostics, is planning to go public in next two years, says its co-founder and CEO Prashant Warier.
Founded in 2016 and headquartered in Mumbai, Qure.ai has developed advanced AI algorithms that help healthcare providers detect critical conditions like tuberculosis, lung cancer and stroke risks. These tools that analyse medical images to give fast and accurate diagnosis are being increasingly used in regions with shortage of trained radiologists.
Warier stated in media, “We look to break even and be profitable next financial year. As we sort of get to that break-even, we can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO.”
The company has already got significant backing from global investors. Qure.ai has raised USD 125 million (~INR 1,063 crore) so far with Fractal Analytics, Peak XV Partners and Novo Holdings—the investment arm of Danish pharma giant Novo Nordisk—as its top backers.
Global Expansion with US as Key Market
Qure.ai’s solutions have got traction with major global healthcare players. Its client list includes AstraZeneca, Medtronic and Johnson & Johnson MedTech with whom it is partnering in India to detect early lung cancer.
Currently, US accounts for around 25% of the company’s revenue, making it Qure.ai’s largest market. The company is now looking to go deeper in US through new partnerships. At the same time, it is also focusing on expansion in low and middle income regions in Latin America and Africa to bridge diagnostic gaps in underserved healthcare systems. Interestingly, India is a minor market contributing less than 5% of overall revenue.
Growth Trajectory in a Booming Industry
Qure.ai has seen 60–70% annual revenue growth and Warier expects this to continue for next five years. The company currently sees around 15 million patients globally each year and this number will go up as AI driven diagnostic tools become more mainstream.
The optimism around Qure.ai is in line with industry trends. The global AI in healthcare market which is estimated to be USD 14.92 billion (~INR 1.26 lakh crore) in 2024 is expected to reach USD 110 billion (~INR 9.36 lakh crore) by 2030 as AI tools for early disease detection, workflow automation and reducing the burden on overworked healthcare professionals gain traction.
Strategic Outlook
While profitability is the goal for next financial year, an IPO is clearly on the cards. Warier said achieving financial sustainability will be a key milestone before public listing.
With its pioneering AI technologies, international clientele, and expanding footprint across developed and emerging markets, Qure.ai is positioning itself as a formidable player in the global health-tech landscape. If current growth trends continue, the company could well be one of India’s most prominent AI-based healthcare success stories to enter the public markets in the near future. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
Source: ipocentral.in
#healthcarestartup #dseidehealthcarenetwork
